The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Review the eligibility requirements for our $100K-$500K business loan.
All that’s required to begin is your contact details (company name, your name, email, phone) along with the amount you’d like to borrow as well as your monthly income.
In the course of the process and before settlement we will require confirmation of your identity however, not in order to begin:
Additionally after we get started in the process, for loans greater than $150,000 you will also require basic financial statements.
Let’s get started.
Auckland unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
The application for the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an immediate response, and have the funds in your account within 24 hours. Traditional business loans reference an interest rate per annum together with additional fees and charges. Our company loan is a cash-based loan therefore you’ll be aware of the amount you will have to pay, including the interest, fees and charges. This is then broken down into either weekly or daily amount to be paid back.
It is a Small Business Loan can be used for almost any business use, including cash flow management, business improvements, advertising for purchasing inventory or new equipment, as general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. Repayments are scheduled weekly or fortnightly to work with the flow of cash.
A Larger Business Loan has an Origination Fee, which is determined at 2.5% of the loan amount.
In order to be eligible for a loan that is this large, your business needs to be in operation for at least 3 years and generate an annual revenue of $700K. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A Larger Business Loan is a great option for almost every business reason, such as company renovations, to purchase inventory or new equipment or as general working capital, and much more. The loan is not available for personal use.
Asset security is necessary to access funding over $150,000. It is usually in the form of a charge against assets, and may include registration on the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is general in nature, rather than stating security over an asset. The person who signs the guarantee is personally liable if the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including items or assets). The PPSR grants preference over private property granted according to the date a security interest that is registered.
An affidavit is an official document that is filed to provide notice of a legal claim against a property.
If you’re requesting the Larger Business Loan that is greater than $250K we can offer an initial pre-approval that will help smooth out the process. We might be able to do this without a credit verification and within 6 hours of your initial application. This pre-approval is based on an initial assessment that includes the answer to a series of financial health questions. It is neither an offer nor a guarantee of finance. Acceptance without condition is subject to a full credit assessment and any offer that you are offered could have different terms.
You may apply for an business loan if you;
The application process is simple and simple. Simply complete the online form in just a few minutes, and a dedicated business lending specialist will call you to assist you.
To apply for up to $100,000 you’ll require identification details (valid Driver’s License), an active NZBN/IRD, and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K – $250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Application details including credit consent as well as 12 months bank statement, an IRD statement Last 2 years’ finalised financial statements, plus interim financials for the current financial year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K or more) we can often offer a response in one hour if you apply during quality company times and allow us to make use of the advanced bank verification system link to instantly verify your bank details online. If you decide to submit copies of your bank statement, we’ll provide the decision in as little as one business day.
For Larger Business Loans ($100K up to $500,000) we may be capable of offer you with a conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this can be quicker based upon the circumstances for each application. Some deals have been approved within 24 hours.
The most effective method would be to ensure you apply during standard business hours. Also, allow us to use the advance bank verification link to verify your bank information online. If you choose to send us copies of your bank statements it takes a bit longer.
For the Small Business Loan ($5K and up) We can usually provide an answer within one hour – provided you make your application within normal business timings and you allow us to use the advanced bank verification system to instantly verify your bank details online. If you opt to submit copies of your bank statements we can offer an answer in just one business day.
If you are applying for Larger Business Loans ($100K and up) we could be able to offer you with a conditional pre-approval within about 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, it could be faster based upon the circumstances for each application. Certain agreements have been approved within the space of 24 hours.
The quickest method can be make sure you apply during normal business hours. Also, allow us to use the advanced bank verification system link to check your bank’s information online. If you upload documents from your account statements it can take a bit longer.
We offer loans ranging from $5,000 to $500,000. If you apply for a specific amount we take into consideration a range of factors for determining the well-being for your company and the level of repayments that your company can support. The amount you receive from your loan will be contingent on the specifics the business.
When you apply for a set amount, we take into consideration a variety of aspects to determine the well-being for your company and the level of repayments that your company will be able to support. The total amount of your loan will be contingent on the specific circumstances that are unique to your business.
When you apply for our business loan, we’ll assess the risk assessment the business and provide you with a tailored proposal that includes the amount of loan, the term and the interest rates. The business loan is an upfront-priced loan so you will be aware in advance of the total amount due, which includes any charges, interest rates or fees.
The interest rates on company loans rates depend on a variety of factors including the amount of money borrowed, the business assets the money will be used for in addition to the industry that the business is operating in, how long the company has been operating as well as in the event that the business has sufficient cash flow to cover the loan, and the overall health as well as creditworthiness business.
There are no hidden fees with our company loans. You’ll know precisely how much you need to pay, and when, right from day one. There’s no compounding interest and the loan comes with no additional fees (as as you make your payments in time).
We don’t charge an Application Fee. You can make an application for loans no cost upfront or obligation to proceed.
The Origination Fee is the cost associated in establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can decide to repay the entire amount of the advance loan at any time.
If you are deciding to do this please talk to one of our helpful company loan professionals. They will provide you with details on repayment and an early payment figure. This is calculated as the total of the principal balance and accrued interest to the time of early payment and 1.5 percent of the principal balance plus any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow cycle we offer repayments either weekly or daily. These are automatically deducted from your company account.
Security of your data, and being clear about how we collect the information we collect, use, share and safeguard your data, is crucial and an integral part of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our dedication to protecting the security of customers and security. We employ an exceptionally sophisticated banking verification system to instantly verify your bank account details online to offer an immediate response.
The term "asset-based" refers to borrowing where the business owner borrows from an asset they own to get the loan. The asset can be either an individual asset, such as the family home or it could be a company asset like a truck or other piece of machinery.
The vast majority of banks, even the major banks, prefer to make loans secured by an asset. If you have trouble paying back the loan, the asset could be offered for sale by the lender. In essence, it’s means of securing new funding taking advantage of the value of what you already own.
For loans up to $150K no asset security is required in advance to gain access to the funds However, we do need a personal guarantee. So long as you comply with the terms of your loan (as detailed in your loan contract) and you are able to meet your obligations, asset security will never be needed. For loans that exceed $150K, generally, there is an individual ensure and security in the form a charge over assets.
